Japan stocks edge up on Athens vote

9:54 am July 16, 2015| Last Modified: 11:05 am July 16, 2015

Tokyo, Japan (BBN)-Japanese and Australian stocks rose as lawmakers in Greece voted in favour of a bailout deal to prevent the country from exiting the eurozone.
The package was agreed with the eurozone on Monday and requires Greece to introduce severe austerity measures, reports BBC.
Without the deal, the country would have faced default and an exit from the euro currency, sparking fears of volatility in international markets.
Japan’s benchmark Nikkei 225 rose 0.4 per cent to 20,545.44 points.
It marks the fourth consecutive day of gains for the Nikkei.
Investors were also taking cues from US Federal Reserve Chief Janet Yellen reiterating that US interest rates were likely to rise by the end of the year.
In her semi-annual testimony to Congress, she also said there were “favourable” prospects for more improvements in the jobs market and the economy as whole, but warned that continued uncertainty in Greece and China posed risks to US growth.RIO TINTO CUTS OUTLOOK
In Australia, the S&P/ASX 200 index rose by 0.7 per cent to 5,676.20 points leading the region’s gains.
Anglo-Australian mining giant Rio Tinto was down 0.2 per cent after the company on Thursday trimmed its outlook for 2015.
Bad weather from cyclones affecting its mines in Australia led to a cut in its production outlook for the year by nearly 3 per cent.
In China, the Shanghai Composite was down 1.6 per cent, at 3,744.81, while Hong Kong’s Hang Seng fell by 0.3 per cent to 24,973.47.
In South Korea, the benchmark Kospi index traded flat at 2,076.42 points.BBN/SK/AD

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